PepsiCo Inc. (PEP) Rating Reiterated by Credit Suisse Group AG
PepsiCo Inc. (NYSE:PEP)‘s stock had its “buy” rating reiterated by Credit Suisse Group AG in a note issued to investors on Friday. They presently have a $122.00 target price on the stock. Credit Suisse Group AG’s price objective points to a potential upside of 12.70% from the company’s current price.
Other analysts have also recently issued reports about the company. Vetr cut PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 price target on the stock. in a research report on Wednesday, June 29th. Jefferies Group reiterated a “buy” rating and issued a $122.00 price target (down from $124.00) on shares of PepsiCo in a research report on Friday. Argus upped their price target on PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, July 13th. BMO Capital Markets reiterated an “outperform” rating on shares of PepsiCo in a research report on Friday, July 15th. Finally, Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $112.25.
Shares of PepsiCo (NYSE:PEP) opened at 108.25 on Friday. The company has a market capitalization of $155.25 billion, a PE ratio of 23.75 and a beta of 0.46. PepsiCo has a 1-year low of $93.25 and a 1-year high of $110.94. The firm has a 50-day moving average price of $107.18 and a 200-day moving average price of $105.23.
PepsiCo (NYSE:PEP) last announced its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.08. PepsiCo had a return on equity of 57.14% and a net margin of 10.74%. The firm had revenue of $16 billion for the quarter. During the same quarter last year, the company earned $1.35 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. Equities analysts anticipate that PepsiCo will post $4.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were paid a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Wednesday, August 31st. PepsiCo’s payout ratio is 66.01%.
In other PepsiCo news, CEO Albert P. Carey sold 170,003 shares of the stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total value of $18,498,026.43. Following the transaction, the chief executive officer now owns 306,138 shares of the company’s stock, valued at $33,310,875.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Laxman Narasimhan sold 3,219 shares of the stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $109.11, for a total value of $351,225.09. Following the completion of the transaction, the chief executive officer now directly owns 97,057 shares in the company, valued at approximately $10,589,889.27. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Culbertson A N & Co. Inc. bought a new position in PepsiCo during the first quarter valued at $7,123,000. Gierl Augustine Investment Management Inc raised its position in PepsiCo by 41.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 27,396 shares of the company’s stock valued at $2,807,000 after buying an additional 8,002 shares during the last quarter. Donald L. Hagan LLC raised its position in PepsiCo by 1.3% in the first quarter. Donald L. Hagan LLC now owns 12,138 shares of the company’s stock valued at $1,244,000 after buying an additional 157 shares during the last quarter. Koshinski Asset Management Inc. raised its position in PepsiCo by 10.1% in the first quarter. Koshinski Asset Management Inc. now owns 3,013 shares of the company’s stock valued at $319,000 after buying an additional 276 shares during the last quarter. Finally, TNB Financial raised its position in PepsiCo by 10.9% in the first quarter. TNB Financial now owns 24,799 shares of the company’s stock valued at $2,541,000 after buying an additional 2,435 shares during the last quarter. 69.81% of the stock is currently owned by hedge funds and other institutional investors.
PepsiCo Company Profile
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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